- Organization Name:Alliance for Community Development
San Francisco, CA 94109
The Alliance for Community Development is a 501(c)3 organization located in San Francisco, California. Our mission is to work at the intersection of business and community interests to create jobs for low to moderate income residents of the San Francisco Bay Area. We do this via the development and implementation of "double bottom line" (DBL) investment funds--funds that seek both financial and social returns, providing educational programs and technical assistance to fast-growing minority and other urban core entrepreneurs seeking equity financing, and undertaking advocacy and research on DBL approaches to regional job creation and economic development.
Our first initiative was to partner with the Bay Area Council, policy organization representing major regional employers, to develop and implement a “double bottom line” investment fund. “Double bottom line” (DBL) investments refer to investing in companies that can achieve both market rate financial returns and positive returns for local communities—primarily the creation of jobs for LMI residents. After an extensive search for a professional manager to operate the fund, in 2001 JP Morgan H&Q was selected and the fundraising process began. The new Bay Area Equity Fund (Fund) closed in mid-2004 with $75 million in investment capital. The Fund is a “double bottom line” (DBL) fund, i.e. it has both financial goals and social goals in its criteria for selecting and evaluating investees. The primary social goal is job creation for LMI residents of the Greater Bay Area. The Alliance and the Bay Area Council are Special Limited Partners and Co-sponsors of the Fund.
In October 2004, the Alliance hired its first staff member (and later Executive Director), Victor Hsi, to begin full-time operations.
Since 2004, the Alliance has engaged in the following activities:
- Identified, screened, and provided technical assistance to more than 80 selected companies who meet DBL criteria and were seeking equity capital for growth and expansion. Refer 35 candidates to the Fund for further due diligence or to other financing sources.
- Organized a major networking event for banks, corporations, government agencies, investors, and non-profits was held in San Francisco in November 2004 and keynoted by then California Lt. Governor Cruz Bustamente.
- Met with and made presentations on the Fund and the DBL approach to banks, investors, government economic development agencies, non-profits, business associations, and schools/universities.
- Organized Bay Area Capital Connections, an annual series of regional conferences for minority owned/led and other urban core companies seeking access to equity capital. This is a 1-day conference with 6 educational workshops on capital access issues, high profile keynote speakers, and a deal presentation session for minority entrepreneurs who have the ability to generate DBL returns and who are ready to make a pitch to investors. The 1st conference in November 2006, held at the University of California San Francisco’s Mission Bay campus focused on the African American market and was a great success. In October 2007, the Alliance held its 2nd Bay Area Capital Connections conference at the new City Hall in San Jose and focused on Hispanic American entrepreneurs. This also was a tremendous success drawing almost 300 attendees and an extremely high quality group of panelists and keynote speakers.
- Year established:1999
- Organization type:Grantseeker
- Country of registration:United States
- Tax Determination Letter:Received Determination Letter
- IRS Section:501(c)(3)
- IRS Subsection:Operating
Other Website Listings
- Guidestar listed:Yes
Types of funding being sought (i.e. funding type)
Program areas of focus and activity (i.e. funding cause)
- Public Benefit, Society Benefit:High
- Social Science, Public Policy:High
Geographic areas of focus and activity (i.e. geographic area)
Organization tax information is not viewable for this organization.